2(1)Section 444A of ICTA (transfers of business: expenses, losses and section 432F(2) excesses) is amended as follows.U.K.
(2)In subsection (1), omit “Subject to subsection (7) below,”.
(3)Omit—
(a)subsection (7) (section not to apply if transfer is not for bona fide commercial reasons or forms part of avoidance scheme), and
(b)subsection (8) (clearance procedure as to non-application of subsection (7)).